The New York Stock Exchange ended its session, Friday, with a decline, with the three major Wall Street indexes recording their lowest closing levels this year.
The Dow Jones index fell by 1.70%, closing at its lowest level at the end of trading since early November 2020, and the Nasdaq lost 1.51%, while the broader S&P 500 lost 1 48%, the worst closing level since July 2020.
This comes in a month dominated by fears of a severe recession as a result of the Federal Reserve’s tightening of its monetary policy.
“September is mostly bad for stocks,” said Christopher Vecchio of DailyFX.
As for Edward Moya of OANDA, he stated that “since mid-August the movement has been one-way to the downside, except for a recovery caused by the expectation that the Federal Reserve will change its policy,” which quickly faded. (AFP)
